Miko Group's Record Growth Amid Challenges

Miko Group's Record Growth Amid Challenges

Despite facing economic headwinds that impacted its private label retail sales in Europe, Miko Group, a Belgian coffee roaster and vending services provider, reported record EBITDA and significant sales and net profit growth in the past year. The company saw a staggering 476% increase in net profits, amounting to €2.2m, and an 8% rise in sales, reaching €298.8m. This growth comes as Miko strengthens its presence in the European out-of-home coffee market through strategic acquisitions such as Beyers Koffie's out-of-home activities in Belgium and other significant purchases in Germany and the Netherlands. However, the company's retail segment continues to struggle due to the economic instability across Europe, which has led to "wafer-thin" margins, according to Miko Group CEO Frans Van Tilborg.

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